German tour giant TUI profits from FTI bankrupcy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 20 2024
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Should l Buy ?
Source: reuters
- TUI Expands Offering: TUI, Europe's largest tour operator, increased its available spots by 300,000 for the current season following competitor FTI's bankruptcy.
- FTI Bankruptcy Impact: FTI's bankruptcy led to canceled trips and prompted holidaymakers to opt for last-minute offers from TUI.
- Financial Consequences for FTI: Sinking bookings and financial difficulties forced FTI to file for bankruptcy in early June after a failed buyout attempt and government refusal to rescue the company.
- Market Response: TUI's shares rose by 2% following the announcement of FTI's bankruptcy on June 3.
- Tourist Preferences: German tourists favored destinations like Mallorca, Antalya, Crete, Rhodes, and Kos, with TUI extending its summer season to late November in anticipation of higher bookings.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
